If your marketing budget is looking a little constrained for 2025, try these tips to manage it as tightly as possible without compromising on performance.
Focus on referral marketing
Marketing strategy consultants advise businesses to look at referrals and build these channels into their CRM, along with a clear referral marketing program that adequately tracks and rewards referrals. Reach out to your referral sources, chat with them, find out how they are and look for ways to offer them value.
Remember your existing clients
Businesses often focus on new customers, but forget their existing clients. It’s vital to really zone in on these clients who have already chosen to support your brand and are likely to be great prospects for further sales. Find out more from expert marketing strategy consultants such as Really Helpful Marketing.
Look at your agency partners
Review your marketing partners to see whether they are delivering the right level of value and measuring success. A partner review will help you to identify areas for cutting costs. This could include negotiating discounts, reviewing your service level agreement, bringing critical functions in-house or cutting contracts entirely.
Look at strategic outsourcing
For some marketing functions, it may simply be more cost-effective to outsource tasks to a lean and efficient third party, than to have expensive in-house staff on your payroll. People costs are usually the highest cost overall in a marketing budget. Look at options for freelancers and contractors too.
Review workloads in your team
Review the tasks that your in-house team are delivering and see whether any individuals have the capacity to work smarter and or harder! This could also involve bringing more AI tools into your team to free up time for human tasks that add real value to your marketing.
Together, these budget-trimming tips should help to lessen your marketing budget for 2025 whilst maximising the success of your marketing delivery. Which steps will you choose to focus on first to get a handle on your costs?
